TechnologyAdvisers warn to avoid buying new technology

Advisers warn to avoid buying new technology

Accountants can save money by not upgrading their technology according to research by IT company

Don’t spend money on technology is the advice for accountancy firms if they
want to survive the economic downturn, according to computer support company
Ulysses IT.

Ulysses, which specialises in IT support for accountants, has made its
recommendation to firms citing that they should not spend money on new
technology to improve their chances of surviving the credit crunch.

This is a notion supported by the ICAEW business confidence monitor which
shows that confidence in the IT sector has hit a record low of minus 18.2
points.

Pete Turner, technical director for Ulysses, said: ‘This is not the time to
be spending capital on new computers unless they are absolutely needed as
replacement equipment.

‘We normally recommend clients invest in IT infrastructure in the good times,
so they can reduce costs at times like these. Accountants should save their
money until the economy picks up again’ he added.

Turner gives out three golden rules for accountants to ride out the downturn
which include; not replacing computing that work and instead improving broadband
and servers; replace old phone systems with internet phones which have more
flexibility; and get IT support on a pay as you go basis.

Tim Newing, IT director at EasyJet said: ‘Instead of concentrating on
business growth and innovation, we are now turning our heads to efficiencies and
cost cutting. We are in the process of devising our budgeting for next year and
IT plans have changed in line with the new business strategy.’

Further reading:

Weak
economy forces firms to refocus IT budgets

SEC
gets technology makeover

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

4d Martin Herron, MHA MacIntyre Hudson
Cybersecurity webinar: how protected are you and your data?

Security Cybersecurity webinar: how protected are you and your data?

1w Emma Smith, Managing Editor
Back to the Future: why financial transformation just hasn’t happened

Technology Back to the Future: why financial transformation just hasn’t happened

1w Workday | Sponsored
GDPR: Don’t forget the human touch

Security GDPR: Don’t forget the human touch

2w Neil Patrick, Director of GRC and Centre of Excellence EMEA for SAP
5 key tech innovations helping accountants transform their businesses

Accounting Software 5 key tech innovations helping accountants transform their businesses

3w Heather Darnell, Founder of Ask the BOSS
HMRC scaling back digital projects to ‘release project capability to EU Exit work’

Brexit HMRC scaling back digital projects to ‘release project capability to EU Exit work’

3w Alia Shoaib, Reporter
What is the role of governance, compliance, and control in financial transformation?

Corporate Governance What is the role of governance, compliance, and control in financial transformation?

4w Workday | Sponsored
Grant Thornton joins with Immersive Labs to increase cyber talent

Career Grant Thornton joins with Immersive Labs to increase cyber talent

1m Lucy Skoulding, Reporter